Answered

Westonci.ca offers quick and accurate answers to your questions. Join our community and get the insights you need today. Our Q&A platform provides quick and trustworthy answers to your questions from experienced professionals in different areas of expertise. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Nancy deposits $2500 into an investing account that pays 6. 1% annual interest compounded quarterly. What will be the balance

after 10 years? Round to the nearest cent

Sagot :

snrichards08

Answer:

Step-by-step explanation:

i = prt (interest = principal x rate x time)

i = 2500 x 0.061 x 10

i = $1525 interest

balance = principle + interest

balance = 2500 + 1525

balance = $4025 balance

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.